Crypto analyst and influencer “Guy,” who hosts the popular YouTube channel “Coin Bureau”, says that $FTM, the native token of Ethereum competitor Fantom is poised for major gains.
Here is a little introduction by the Fantom team to this exciting crypto project:
“Fantom is a high-performance, scalable, and secure smart-contract platform. It is designed to overcome the limitations of previous generation blockchain platforms. Fantom is permissionless, decentralized, and open-source. Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be much faster and cheaper than older technologies, yet extremely secure.“
In a recent video, Guy told his YouTube channel’s 1.6 million subscribers that $FTM has “a lot more room to the upside,” despite the price surge it has seen this year.
Guy called Fantom’s medium sized market capitalization attractive for new investors and said the project’s fundamentals are “significantly stronger” than other cryptoassets on the market.
As reported by The Daily Hodl, Guy stated,
FTM’s tokenomics are also seriously robust. All FTM coins allocated to Fantom’s early investors, founders and advisers finished vesting last November.
Guy went on to explain the network’s minting process, saying that all new $FTM coins coming to the market are being generated as staking rewards. The host said the continued minting would introduce a “small amount of sell pressure” that would be easily offset by demand coming from the platform’s userbase and investors.
Coin Bureau’s host also noted that the Fantom Foundation offers a massive developer fund, with funds being vested to devs monthly over the course of one year.
According to Guy, more than half of Fantom’s circulating supply is being staked:
And I’m sure most of it is being staked for more than the bare minimum. This reduction in available supply further increases FTM’s ability to fly.
Guy predicted FTM would gain 100% to 200% before the end of the bull market and that it was “very possible” $FTM could pump higher.
According to data by CryptoCompare, currently (as of 8:18 UTC on November 13), $FTM i trading around $2.654, up 2.87% in the past 24-hour period:
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.